Prohibited Jurisdictions and Activities

Effective date: October 6, 2026

This policy lists the places from which our services cannot be used and the activities for which they cannot be used. It forms part of our Terms and Conditions. It applies to every customer, every profile and every team member, whether or not their account has been verified.

1. Why this policy exists

PAYCORE TECHNOLOGY CO., LTD ("Moneyspace", "we") is registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) as a money services business. We must comply with Canadian anti-money laundering, anti-terrorist financing and sanctions laws, and with the rules of the partners through which we provide our services, in particular Bridge for USD and EUR services. Some restrictions below come directly from the law, some from our partners, and some from our own assessment of risk. They can change at short notice when sanctions or partner rules change.

2. Sanctions

We do not provide services to, or for the benefit of, any person or organisation that is:

• named on a sanctions list maintained by Canada under the Special Economic Measures Act, the Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law), the United Nations Act or the Criminal Code list of terrorist entities;
• named on the United Nations Security Council Consolidated List;
• named on the U.S. Treasury Office of Foreign Assets Control (OFAC) Specially Designated Nationals list or other OFAC lists;
• subject to asset freezes under the sanctions of the European Union or the United Kingdom;
• owned or controlled, directly or indirectly, by any of the above, or acting on their behalf.

Our partners screen against these lists: Bridge screens every customer who verifies for USD and EUR services, and our custody provider screens incoming crypto deposits. We may also screen customers, counterparties and blockchain addresses ourselves. You can consult the lists published by Global Affairs Canada, the United Nations, OFAC and the European Union.

3. Prohibited jurisdictions — no services

You must not use any of our services, including crypto wallets, if you live in, or your business is incorporated in or operates from, one of the following jurisdictions, and you must not use them to send money to or receive money from these jurisdictions. They are listed for sanctions, partner or risk reasons. If we learn that this applies to you, we will close the affected services.

• Afghanistan
• Belarus
• Cuba
• Democratic Republic of the Congo
• Iran
• Iraq
• Lebanon
• Libya
• Myanmar (Burma)
• North Korea (DPRK)
• Palestinian territories: Gaza Strip and West Bank
• Russia
• Somalia
• South Sudan
• Sudan
• Syria
• Regions of Ukraine not under the control of the Government of Ukraine: Crimea, Sevastopol, and the Donetsk, Luhansk, Kherson and Zaporizhzhia regions
• Venezuela
• Yemen

Ukraine outside the regions listed above is not a prohibited jurisdiction, but customers there may be asked for additional information.

4. Jurisdictions where USD and EUR services are not available

Our partner Bridge does not provide its services to residents of some further jurisdictions. Customers who live in, or businesses that are based in, the following places cannot use USD and EUR account details or bank payouts, but may use our other services unless another restriction applies:

For residents of some other countries, Bridge supports only some payment rails (for example, EUR via SEPA but not USD via ACH or wire). Bridge publishes its current supported countries list. If a service is not available for your profile or country, the App tells you.

5. Higher-risk jurisdictions

For customers connected with jurisdictions that we, our partners or the Financial Action Task Force (FATF) consider higher risk, we may ask for more information, apply lower limits, take longer to review transactions, or decline to provide a service.

6. Other local restrictions

Some countries restrict or prohibit digital-asset or cross-border payment services, or require local licences that we do not hold. We may decline to provide a service, or a particular feature, to residents of such a country even if it is not listed above. It is your responsibility to make sure that using our services is lawful where you live.

7. How we apply the jurisdiction rules

• We consider where an individual lives, where a business is incorporated and operates, and where its owners and controllers are based. Citizenship may also matter where a sanctions law or a partner's rules make it relevant.
• We may use your verification documents, your stated address, your IP address and other information to decide where you are.
• You must not use a VPN, proxy or other tool to hide your location, and you must not give us a false address.
• If you move to a prohibited jurisdiction, you must tell us and stop using the affected services. We will help you withdraw your balance where the law allows.

8. Prohibited activities — all services

You must not use our services, directly or indirectly, for any of the following:

Financial crime

• money laundering, terrorist financing, or financing the proliferation of weapons of mass destruction;
• evading sanctions or helping anyone else to do so;
• fraud of any kind, including scams, phishing, impersonation, fake invoices and payment redirection;
• tax evasion or helping anyone else to evade tax;
• bribery or corruption.

Acting for other people

• receiving, holding or sending money on behalf of other people, including acting as a "money mule", unless we have agreed to it in writing;
• operating a money transmission, currency exchange, payment, remittance or digital-asset exchange service for third parties through your account, unless we have agreed to it in writing;
• letting anyone else use your account, or opening an account for someone else, except Team Members as our Terms and Conditions allow.

Illegal goods and services

• illegal drugs, substances designed to imitate illegal drugs, and drug paraphernalia where illegal;
• weapons, ammunition, explosives and their parts, except where we have agreed in writing to a properly licensed business;
• counterfeit or stolen goods, and goods or content that infringe intellectual property rights;
• human trafficking, forced labour, or the exploitation of any person;
• child sexual abuse material, or any content that sexualises minors;
• any other goods, services or activities that are illegal where you are, where the counterparty is, or in Canada.

Abusive and high-risk financial activity

• Ponzi or pyramid schemes, "high-yield investment programmes" and similar schemes;
• unlicensed gambling, lotteries or sweepstakes;
• unregistered offerings of securities or investment contracts;
• coin mixers, tumblers, or other services designed to hide where digital assets come from or go to, and interacting with darknet markets;
• transactions with blockchain addresses connected with ransomware, hacks, theft or sanctioned persons.

Abuse of our services

• giving us false, misleading or stolen identity information or documents;
• trying to get around our limits, verification or controls, for example by splitting transactions or by using several accounts;
• attacking, probing, scraping or overloading our systems, or reverse-engineering our app;
• using our name, brand or services to mislead anyone.

9. Activities not permitted for USD and EUR services

Bridge's terms prohibit certain businesses from using its services. Businesses whose main activity falls into one of the following categories cannot use our USD and EUR services, even if the activity is lawful where they operate:

• gambling, games of chance, lotteries, sweepstakes and prediction markets;
• weapons;
• precious metals, jewellery, watches and other luxury goods;
• cannabis and cannabis-related products and services;
• pharmaceuticals and tobacco products;
• adult content and services;
• multi-level marketing;
• check cashing, bail bonds, debt collection and safe deposit box rental;
• lending, investment, credit, money transmission or digital-asset exchange services offered to third parties;
• any other business that Bridge decides poses too high a financial, legal or reputational risk.

10. Activities that need our approval

Businesses in the following areas must tell us during onboarding and may be accepted only after enhanced review, if at all: money services and payment businesses (for their own treasury only), digital-asset businesses, foreign exchange, businesses that hold client funds (such as escrow), charities and non-profit organisations, and businesses owned or controlled by politically exposed persons.

11. How we enforce this policy

We monitor accounts and transactions, and we may act on information from our partners, from blockchain analysis, from law enforcement or from the public. If we suspect that this policy has been breached, we may, without notice and to the extent the law allows:

• ask you for information or documents and pause transactions until we receive them;
• refuse, hold or return a transaction;
• lower your limits or switch off particular services;
• suspend or close your account;
• report the matter to FINTRAC, law enforcement or other authorities.

The law may prevent us from telling you that we have made a report or why we took an action. Where funds are frozen under a sanctions law or a court order, we must keep them frozen until the law allows their release.

12. Your obligations

By using our services you confirm that:

• you are not, and are not owned, controlled or acting for, a person described in section 2;
• you do not live in, and your business is not based in, a jurisdiction in section 3;
• you will not use our services for any activity in section 8 (or section 9, for USD and EUR services);
• you will tell us promptly if any of this changes.

13. Reporting concerns and contact

If you believe that someone is using our services in breach of this policy, please write to legal@moneyspace.io. You do not have to give your name. Questions about this policy can be sent to the same address.